India, April 17 -- The Reserve Bank of India has approved 15 banks to import gold and silver, expanding participation in bullion trade. The move is aimed at strengthening supply channels, improving regulatory control, and ensuring smoother import operations ahead of key demand periods like the festive season.

The approval includes both public and private sector banks, enhancing their role in commodity-linked trade. It is expected to support better distribution efficiency, improve market access, and create additional fee-based income opportunities for banks through bullion import and related services.

What happened The Commerce Ministry has issued a fresh notification on gold and silver imports, authorising a revised list of banks to han...